The steady stream of energy efficiency regulations continues. Recently, the Department of Energy (DOE) released its proposed rule establishing standards for “commercial and industrial electric motors.” In one of the more expansive sets of efficiency standards, DOE plans to extend regulations to 14 kinds of engines. This set of standards will cost $11.7 billion.
Regulatory activity was at a near standstill during the holiday week. Regulators added $46 million in published burdens, $121 million in benefits, and more than 1.9 million paperwork burden hours. A final rule on occupant crash protection and a tax measure implementing the Affordable Care Act led the week.
Publication Dates of the Unified Agenda of Federal Regulation
Last August, the Consumer Financial Protection Bureau (CFPB) published a proposed rule under Dodd-Frank that would consolidate certain mortgage disclosure forms into a single set of paperwork. The Bureau recently released its final version of the rulemaking. The unofficial, pre-publication version of the rule is 1,888 pages.
Regulatory costs and benefits were largely stagnant this week. Regulators published only $15 million in costs, with no quantified benefits.
One week after the President introduced his “fix” for plan cancellations, the Wall Street Journal reports that it is not a simple task. “Some carriers say they may not or won't reinstate canceled policies because of a lack of time to make changes and other obstacles. Others say the one-year extensions would come with higher rates. At least five states—New York, Washington, Massachusetts, Minnesota and Rhode Island—have rebuffed Mr. Obama, meaning insurers can't reinstate policies there even if they do so elsewhere.”
Shortly after the American Action Forum (AAF) published an article about notices from the National Credit Union Administration (NCUA) and the IRS requesting 45 billion hours in paperwork, NCUA published a correction.
CNS News reports this morning on a new AAF study which finds that government over regulation is taking a serious toll on job growth.
When agencies impose three significant regulations on an industry, the affected industry employment declines by up to 20 percent, according to American Action Forum (AAF) research.
A final IRS rule introducing mental health parity for insurance and a Federal Aviation Administration (FAA) regulation for training requirements highlighted a busy week.